The Fund seeks to achieve capital growth and, gradually over time, to reduce the risk of capital erosion for investors planning to withdraw all or substantial portions of their investment in the Fund during or after the Target Date Range (which is 2046-50). The Fund is mainly invested in units of other collective investment schemes, including schemes managed by firms in the AXA Group. The collective investment schemes that the Fund invests in will predominantly be of a passive nature, meaning collective investment schemes that track investment indices. The Fund may also invest in transferable securities, money market instruments, warrants, deposits, derivative instruments and, or indirectly through, collective investment schemes. Use may be made of stock-lending, borrowing, cash holdings and hedging. The Fund may use derivatives for investment purposes as well as for Efficient Portfolio Management.

?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.

0.55%

Fund size

£0m (£2m last year)

FE Risk score

?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.

?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.

-

Beta

?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.

-

Sharpe

?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.

-

Volatility

?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.

-

Tracking error

?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.

-

Information ratio

?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.

-

R-Squared

?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.

-

Price movement

52 week high125.2

52 week low91.86

Current bid price-

Current offer price-

Current mid price122.6

Region

1

International

58.8%

2

UK

28.8%

3

Global Emerging Markets

9.1%

4

Not Specified

2.9%

5

Money Market

0.4%

Industry sector

No data available.

Asset type

1

Global Developed Equities

45.5%

2

UK Equities

23.9%

3

Global Emerging Market Equities

9.5%

4

International Property

7.9%

5

Global Small Cap Equities

6.3%

6

UK Gilts

4.2%

7

Commodity & Energy

2%

8

Global Corporate Fixed Interest

0.6%

9

Global Fixed Interest

0.1%

Individual holdings

1

BLACKROCK NORTH AMERICAN EQUITY TRACKER L

27.53%

2

BLACKROCK UK EQUITY TRACKER L

23.14%

3

BLACKROCK CONTINENTAL EUROPEAN EQUITY TRACKER L

10.09%

4

BLACKROCK EMERGING MARKETS EQUITY TRACKER L

9.54%

5

BLACKROCK GLOBAL PROPERTY SECURITIES EQUITY TRACKER L ACC

7.68%

6

VANGUARD GLOBAL SMALL-CAP INDEX ACC GBP

6.21%

7

BLACKROCK JAPAN EQUITY TRACKER L

5.14%

8

BLACKROCK PACIFIC EX JAPAN EQUITY TRACKER L

2.49%

9

UBS ETFS PLC - CMCI COMPOSITE SF UCITS ETF (USD) A ACC

2.04%

Management

Fund manager group

Architas

Fund manager company

Architas Multi-Manager Ltd

Fund type

OEIC

Fund objective

The Fund seeks to achieve capital growth and, gradually over time, to reduce the risk of capital erosion for investors planning to withdraw all or substantial portions of their investment in the Fund during or after the Target Date Range (which is 2046-50). The Fund is mainly invested in units of other collective investment schemes, including schemes managed by firms in the AXA Group. The collective investment schemes that the Fund invests in will predominantly be of a passive nature, meaning collective investment schemes that track investment indices. The Fund may also invest in transferable securities, money market instruments, warrants, deposits, derivative instruments and, or indirectly through, collective investment schemes. Use may be made of stock-lending, borrowing, cash holdings and hedging. The Fund may use derivatives for investment purposes as well as for Efficient Portfolio Management.

Benchmark

No data available.

Investment style

Flexible,Target Maturity

Investment method

None

Fund managers

Name

Since

Biography

David Hutchins

11/11/2014

David Hutchins is a Senior Vice President and Head of AllianceBernstein’s Multi-Asset Pension Strategies business in the UK. He is responsible for the development and management of multi-asset portfolios for both defined benefit and defined contribution clients. Hutchins joined the firm in 2008 after spending two years at UBS Investment Bank, where he was responsible for devising and delivering innovative capital markets risk-management solutions for pension schemes. Prior to that, he spent 13 years at Mercer, where he served as a European principal and scheme actuary, providing trustee and corporate advice to a range of UK pension funds and their sponsors. Hutchins holds a BSc in mathematics and a PGCE from the University of Bristol. He chairs the Investment Management Association’s Defined Contribution Committee and formerly chaired the defined contribution industry working group for the UK government’s “defined ambition” project. He is a Fellow of the Institute of Actuaries.

Karen Watkin

11/11/2014

Karen Watkin is a Vice President who has served since 2011 as Portfolio Manager for the Pension Strategies Group. She is responsible for the investment design and management of AllianceBernstein’s multi-asset solutions for pension schemes in the UK and Europe. From 2008 to 2011, Watkin was portfolio manager for the Index Strategies Group, overseeing the design and implementation of our index strategies for institutional clients in the UK and Europe. She joined the firm in 2003 as an associate portfolio manager and from 2006 to 2008, was manager of the Blend and Value Portfolio Management Group in London, responsible for the optimization, implementation and transition management of institutional client portfolios. Watkin previously worked for three years as a management consultant in the Capital Markets Group at Accenture. She holds a BA in economics with European study from the University of Exeter and is a CFA charterholder.

Compliance

IA Recognised, Non UCITS Retail Scheme

Domicile

No data available.

Fund for sale in

United Kingdom

Architas Birthstar TD 2046 50 I Acc

Initial charge-

Annual charge0.55%

Min single investment£1,000,000

Min regular saving£500

Available in ISAYes

Ongoing charge (OCF)0.55%

Total expense ratio (TER)-

Bid price-

Offer price-

Mid price124.7

CurrencyGBX

Price updated08/12/2016

TypeAccumulation

Institutional or retail classInstitutional

Domicile-

Citi codeKOID

Architas Birthstar TD 2046 50 R Acc

Initial charge-

Annual charge0.55%

Min single investment£500

Min regular saving£200

Available in ISAYes

Ongoing charge (OCF)0.55%

Total expense ratio (TER)-

Bid price-

Offer price-

Mid price122.6

CurrencyGBX

Price updated08/12/2016

TypeAccumulation

Institutional or retail classRetail

Domicile-

Citi codeKOIC

Data provided by

The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Moneywise and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.

This information is sourced from our partner Financial Express. We believe the data to be correct however you should take care in using any information.

You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.

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